Farmland prices continue to soar, as a new record Iowa land sale occurred in Dubuque County, Iowa last week with High Point Land Company claiming it auctioned off 60 acres for $30,000 per acre.

With the financial stakes so high, who can afford to make these big money moves… read the article here: https://bit.ly/3QNwU5c

Land prices in the month of July 2022 were stable in some areas and lower in others. We sold many tracts in Iowa, Wisconsin, Minnesota, Colorado and Missouri; and noticed a few trends across the listings and auctions compared to the rest of the market. 

The auctions we held all had very aggressive bidding and were well attended live and online from local buyers as well as regional and national buyers. Successful bidders were all types and funded by bank loans, 1031 exchanges, cash and contract for deed. Land sold at auction was the highest in the state of Iowa ranging from $170 to nearly $300per CSR2 point on the tillable ground ranging from $9,700-$20,200 per tillable acre. On the recreational land side, the range was from $7,000-$10,400/ac in the state. We also had auctions in Minnesota and Wisconsin which had similar results on the attendance and prices with one land auction in Mower County, MN selling for $11,874/tillable acre and $137/CPI point. In Wisconsin in Eau Claire County we had a successful land auction result in a $6500/acre price across 94+/- acres of farm land. The traditional listing, off market, and sealed bids sales had great results as well with many rural building sites, tillable ground and hunting farms selling at or above expectation through out the month. 

Two topics we are watching very closely currently is interest rates and commodity prices as we have noticed across the entire land market a few sales have seemed to soften outside of our firm. Corn and soybean prices throughout the last couple months have declined from nearly $8.00/bu range down to low 6’s on corn and soybeans peaked in the high 16’s then down to low 15’s and have returned into mid $16.00. Interest rates have been a major concern especially on the residential side nearly doubling in the last 6 months for loans than can be obtained on residential homes and consumer products. This has slowed some residential markets down substantially around the country with days on market on listings increasing and sale prices declining in some areas from the peak. In agricultural financing we have seen an increase, however not as high as the residential market. Local lenders we have spoken to recently are in the 4.25-4.75% on rates with good lock terms still available. This is higher than they have been in past months, but we have not seen this affect the market negatively yet. 

We have many auctions coming up in the next 60 days, as well as new high quality land listings. If you are looking for land for sale, check out our website or give any of our agents a call to talk land. 

Land Prices in the month of June continued to peak even though more land has become available for purchase. Scarcity remains a driving force for land that has not been available to purchase in decades, or in some cases over a century. Historically low interest rates, commodity prices and available cash continue to be driving buyers to buy, and prices pushing sellers to sell. 

We had many sales in the month of June in the recreational, agricultural, and rural home categories. The highest prices were achieved at various auction methods and public listings depending on the type or use of property and the area it was located in. A couple highlights of the month were a record breaking auction High Point held in Dubuque County, IA. This sale is believed to be the highest agricultural zoned property ever to be sold at auction with tract one selling for over $30,000 per acre after the 2% buyers premium. This land had just been annexed into the city of Dubuque and had many buyers with different use intentions bidding on the opportunity to purchase. (Watch the full auction here) 

High Point also had a very successful sale of nearly 400 acres in Eau Claire County, WI, 245 acres in Knox County, MO and a 120 acre sale in Winneshiek County, IA selling a primarily recreational tract for over $10,400/ac! When the land market is strong selling at auction can be a very strong strategy for obtaining top dollar, however, it is very important the sale be marketed and potentially offered in a specific way. 

In addition, we started a new video series talking about everything land with Mr. Bill Winke. If you want to check it out, subscribe to our YouTube channel for the weekly episode releases here.

The land market has remained strong for the time being. If you or someone you know is interested in land for sale or selling land in IA, WI, MN, CO or MO give one of our licensed real estate agents or auctioneers a call today. They are an incredible resource for everything land in their service areas and would be happy to answer any questions you may have. 

Land prices in the month of May 2022 were stable to higher overall. We closed many land transactions primarily consisting of traditional listings, off market private negotiations, and 1031 exchange sales as well as took many new properties pending in hunting land, rural residential, and farm land in the states of IA, WI, MN, and CO.

Commodity prices have pulled back a little from their monthly peaks earlier primarily due to the weather turning around and most of the crop getting in the ground very quickly when things dried and warmed up. Also another area of discussion has been increasing interest rates which have not raised in commercial or land loans as much as the secondary residential side however is an area of consistent discussion currently.

Land prices in the month of May on tillable land were consistently over 100/CPI+ point in MN ranging from $8,000-$14,000+ per acre and 150-300/CSR2+ point in Iowa ranging from $9,600-$20,000+. In Wisconsin prices were from $4,500-10,000/acre based on quality and area of the state. On the hunting land side quality timbered recreational property is consistently ranging from $4,000-$7,000 per acre with one transaction going well over $8,000 per acre for a very high quality tract with excellent property management and timber assets on the property. In the state of Colorado hunting land is ranging from $1,500-$3,000+ consistently depending on water rights, property access, being buildable, proximity to larger towns, and utility availability.

Land is being used as an inflation hedge and cash purchases or 1031 exchanges are consistently the purchase motivator to name a few reasons buyers are currently buying. If you are interested in purchasing land we have 11 auctions scheduled between now and July 21st with many high quality tillable, hunting and development tracts scheduled to be sold int the next 45 days. We also have many new traditional listings available on our website with more coming soon.

Have a safe finish to planting and thank you for choosing High Point Land Company!

Land Prices in the month of April 2022 remained at high levels. The cold weather spring, fuel prices supporting ethanol, and the Russia/Ukraine conflict to name a few have commodity prices at the highest levels in history. Interest rates made some big increases over the month leaving sellers wondering if it was going to effect land prices and the answer is “no” and/or “not yet”. Statistically we did not see any decline in average prices per acre with the interest rate increases, however they have not increased on the land side nearly as much as on the residential side of mortgages however that may change. If and when it does rates are still historically low, although it will reduce the affordability for buyers purchasing with a loan which have increased compared to cash purchasers in the last month.

High Point sold land for estates, farm families, investors, hunting land owners, absentee land owners and rural home owners over the coarse of the month giving us a great idea of what markets are doing in all categories. We also had many successful land auctions including one in Allamakee County, IA selling over $210/tillable CSR2. The tillable land market has had very strong selling numbers from farmer operators and investors alike looking for a stable investment and place to combat inflation.

The recreational land market was also very strong with many buyers looking for hunting land and buildable opportunities in the country. We have many buyers looking for hunting and recreational land in all markets. These buyers are locals as well as people looking to move to the area or find a get away consistently out of big cities or northern states with cold weather.

We currently have 8 auctions scheduled for June if you are looking for land. We are keeping a close eye on the weather this spring as it is giving the market very high numbers that will directly effect the growers bottom line allowing them to pay more for land as well as pay higher rents on land to owners looking to rent out the land.

If you are interested in selling land or a farm contact one of our land agents today. They are on top of the market and have a wealth of knowledge on everything land.

Have a nice start to spring and safe planting season.

Land Prices during March 2022 were stable to higher remaining high overall in comparison to historical prices. Land during the month sold at Live Public Auction stood far and above at the prices it achieved above other sales methods. Sellers were estate acquired real estate, consolidating or retiring farmer operators, investors, and absentee land owners. Buyers were aggregate and row crop land investors, hunting land or recreational land buyers and absentees looking to take advantage of many opportunities offered in todays land offerings. 

Things that caused land prices to increase over the last month motivating buyers to buy were primarily availability, scarcity, Russia/Ukraine conflict, drought, interest rates, cash, input costs, rents, commodity prices, inflation, timber markets, building costs and fuel prices to name a few. These factors are mainly motivating buyers to purchase land as a benefit while on the sellers side the motivation is different. Sellers are not only seeing this as a good time to cash in but benefiting equally by achieving a higher price, having favorable tax environments and moving equity into simpler managed investments or turning to cash. 

We had many above expectation sales this month including a beautiful Mitchell County, IA 80 acre tract that sold for $19,900/acre with a 91.9 CSR2 and nearly $24,000 per tillable acre really showing what a well executed auction can achieve. We had many tillable land sales in the 10-$15,000 per acre range and prices were based on quality, size, area, tile and neighborhood. Tillable land ranged from $100-$230+ per CSR2 point and $100-$150 per CPI point making marketing and exposure to the right buyers very important as more land becomes available for purchase. 

On the recreational timber land side we are seeing prices in the 4-$7,000 per acre range regularly based in the property being buildable, having good access, being high quality hunting or fishing and have quality timber stands on the property. This market is influenced strongly by interest rates which have started to increase leaving buyers with a higher payment than in previous months. 

The land market remains strong for many reasons as we move into the spring. If you are interested in selling a property feel free to reach out to one of our great land agents to talk with them about your intentions. They would be happy to help you find the perfect buyer for the best price when you are ready. If you have inherited a property via estate and are in need of a basis establishment appraisal for tax purposes or are obtaining a land loan reach out to our appraisal department Either would be a great resource or conversation to ensure you are taking advantage of the hot land market today. 

Have a safe, enjoyable spring!

Land prices for the month of January 2022 rose overall for the properties that became available for purchase via land action, land listing, or off-market land purchases. The theme for the month was scarcity as we have more buyers looking for land for similar reasons from the past year than ever. The buyers categorized as “investors” were very active due to increased real estate values elsewhere creating many 1031 exchange buyers looking to buy land for its simple management reasons, as well as increased timber/cropland cashflow and values to name a few. We also had many cash and financed local buyers purchase hunting land, buildable land, and cropland tracts for personal use or to rent out. 

Seller motivations for the month were primarily sellers that were taking advantage of the high prices of land that have had an interest in selling for some time and decided now has looked like a better time than ever. Multiple sellers over the month have had their land for sale privately or with other firms without buyer interest and were welcomed with many showing and multiple offers after their property was marketed and exposed correctly at High Point, sometimes even higher than their previous listing prices. In this market simple exposure is not enough to find great buyers and many of them at once. A property must have excellent high quality marketing, accompanied by a story, and a marketing plan to ensure all buyer types see the property or are motivated to purchase at today’s new High Points. Another important part is a land agent that understands financing and has relationships with leaders that can get land deals financed to successfully close the transaction. 

Down to prices. Much of the farmland that becomes available for purchase today is being sold at auction to ensure the highest price is achieved in the shortest amount of time for the sellers and buyers to feel comfortable with competitive bidding. Farmland is measured in quality based on many factors, however a large one being CPI/CSR2 or named soils that buyers are familiar with and know what types of crops and yields can be expected to be productive and in turn profitable. Land prices in MN, IA and WI are trading conservatively in the 130-250+/CSR2 and 110-140+/CPI point depending on many factors and sale methods. Woods, hunting land or timber land is selling for $4000-7500/ac+ again based on quality, location, water, access, and buildable opportunities to name a few. Land in Colorado is selling for a very wide range due to not only its use but its availability for use or access water. Much of the hunting land in the state is selling between $2000-$5000/ ac depending on the quality and area as well as the access and potential deed restrictions that may reduce interest in or use of the property. 

If you are interested in selling or buying land this is a great time to do so for many reasons on both sides of the coin. If you have questions regarding the market, financing, cashflow or anything pertaining to land give one of our qualified agents a call today. They are an excellent resource that love talking land.

Land prices for the month of December 2021 were stable month over month remaining very strong. We had many types of sales this month for many types of properties sold as a traditional listing, off market, seal bid auction, live auction and online auction and all methods very effective at achieving top market prices. 

The general consensus from buyers is still that interest is low, everything to do with income and cashflow is high and there is not secure investment alternatives to land currently. That paired with conversations with buyers about inflation and future tax and basis changes has land prices stable even though a substantial amount became available over 4th quarter and throughout the 2021 year. 

Farmland has not been the only category to see a substantial increase even though that is where many of the headlines have focused. Yes, we have seen an increase in that space from 20-30%, however the hunting land and rural recreational property have increased nearly 50% on average overall. A couple recent examples in Trempealeau County, WI; Chickasaw and Clayton County, IA; and Winona County, MN confirm that high quality recreational land is in the 5-7000/ac range on a regular basis. The explanation is primarily scarcity and affordability even though an argument could be made for increased timber values, CRP, and tillable land rent factoring in on the price. The want for a place to put in food plots for hunting, have a cabin, rural home, pond, or place to shut out the world and call your own has never been higher. When that is paired with interest rates in the 3.25-4.25% range with long term amortization schedules, rate lock terms and a lot of cash or equity increases in the country we have affordability being a major factor more than cashflow of a property much like other recreational land in the nation. 

Farmland on the other hand has not let off the gas and I am not sure if it will, or should I say when it does. I think we will see another plateau mirroring 2013-2018 if I had to look at a crystal ball. Interest rates are getting locked in for 10-30 years, the stock market has been in park for some time, and corn is currently north of $6.00/bu after one of the largest yielding harvests the Midwest has ever seen. This tells me operators and investors alike will have cash pre and post end of year and there will be purchasing power into 2022. Inputs are one item we are watching closely as rents and fuel prices climb as well as fertilizer, chemical, equipment and seed shortages all become concerns. 

We have many listings on our website currently available as well as auctions coming on the market for the first quarter of 2022. If you have questions about land as an investment, a farm offering tax or depreciation benefits or what the land market is doing in your area talk to one of our professional land agents or auctioneers. They are a wealth of knowledge and care about our clients best interest above all else. 

We want to thank all of our wonderful buyers, sellers, farm management, and appraisal clients for another great year in land business. All of us at High Point appreciate your business and trust and wish you a Happy New Year!

Land Prices for the month of November 2021 were again stable to higher month over month. We had many types of sales this month for many types of property and in all categories land was up. The general consensus from buyers is that interest is low, everything to do with income is high and there is not secure investment alternatives to land currently. That paired with conversations with buyers about inflation and future tax and basis changes has land prices stable even though a substantial amount has become available over 4th quarter.

Farmland has not been the only category to see a substantial increase even though that is where many of the headlines have focused. Yes, we have seen an increase in that space from 20-30% however the hunting land and rural recreational property has increased nearly 50% on average overall. The explanation is primarily scarcity and affordability even though an argument could be made for increased timber values, CRP and tillable land rent factoring in on the price. The want for a place to put in food plots for hunting, have a cabin, rural home, pond or place to shut out the world and call your own has never been higher. When that is paired with interest rates in the 3.25-4.25% range with long term Amortization schedules, rate lock terms and a lot of cash or equity increases in the country we have affordabilit being a major factor more than cashflow.

Farmland on the other hand has not let off the gas and I am not sure if it will or should I say when it does I think we will see another plateau mirroring 2013-2018 if I had to look at a crystal ball. Interest rates are getting locked in for 10-30 years, the stock market has been in park for some time and corn remained north of $5.00/bu after one of the largest yielding harvests the Midwest has ever seen. This tells me operators and investors alike will have cash pre and post end of year and there will be purchasing power into 2022. Inputs are one item we are watching closely as rents and fuel prices climb as well as fertilizer, chemical, equipment and seed shortages all become concerns.

We have many auctions lined up in December as well as pages of property available via traditional listing on our website at www.highpointlandcompany.com. If you or someone you know is looking to take advantage of a 1031 exchange into farmland or hunting land purchase contact one of our agents today. They are very knowledgeable on the topics of land we specialize in.

Have a safe end to harvest and hunting season, we are grateful for the opportunities you have given us in the land business.

Land Prices for the month of October 2021 trended stable to higher overall this month. We had many sales sold at live public auction, private sealed bid, traditional listing, and negotiated privately in Iowa, Minnesota and Wisconsin. The land market has had substantial interest from buyers and sellers alike and currently property is being absorbed very quickly in the market with cash purchases or approved loans. We are seeing more land hit the market as we move through the start of 4th quarter; however with low interest rates, high commodities prices, tax laws remaining favorable and inflation concerns looming, land real estate is being snatched up when it becomes available at high prices. 
Auctions continue to set the bar and move it higher compared to other sales methods. We recently had an auction in Allamakee County, IA continue for 9 rounds and over two hours of active bidding with over 125 people in attendance and aggressive active bidders on every tract. We also had auctions in Wisconsin and Minnesota have similar results consistently putting timber at $5,000-$7500+ per acre, tillable land over 130/CSR2 or 115/CPI point as high as 248/CSR2 and a new record for a 10 acre building site breaking $34,000 per acre for the tract in Goodhue County, MN individually on Oct 27th. Marketing in this market is where our agents are really shining, exposing property to the right buyers local and nationally and having them compete to purchase high quality properties that have been held by many sellers over 100 years. There is a lot of noise in this market and not getting lost in the shuffle has really proven effective for sellers coming to High Point.  Another place clients are seeing great value in is our land appraisal department that tracks every sale to use as comparables for appraisals for banks, estates, land owners, trusts, and many other purposes. If you are wondering what a property is worth in today’s market, making a purchase, or settling an estate and are in need of a land appraisal in Minnesota or farm land appraisal in Iowa; our team appraisers are very quick and cost effective.  If you are interested in having a land appraisal completed, selling a farm or land at auction, sealed bid auction or traditional listing; contact one of our great team members today. They have consistently been adding substantial value to clients above the remainder of the market and are happy to talk land with you if you have any questions.  Have a safe finish of harvest, great start to the whitetail rut, and enjoy this beautiful fall we have been blessed with.

Harvest is in full swing as we enter October! Land Prices for the month of September 2021 remained very strong remaining stable as we close on Quarter 3. Looking ahead, we currently have 3,500+ acres scheduled for auction in Q4 across Iowa, Minnesota and Wisconsin, featuring A+ quality farmland, prime recreation ground and highly sought after building sites. In addition to upcoming auctions, High Point also has 3,600+ acres available via listing across Iowa, Minnesota, Wisconsin, and Colorado. Properties available feature gorgeous acreages, investment-grade farmland, prime hunting & timber land as well as ranches available and multiple commercial opportunities.

Auctions continue to “set the bar” across the land market and show no signs of slowing. In Iowa, High Point auctions have averaged over $160/CSR2 point across tillable acres and an average of nearly $10,500/acre. The land market continues to exhibit strength strong for 4 main reasons remaining consistent with last month’s newsletter. Interest rates on land are consistently in the 3-4% range allowing the buyers and operations to have a lower payment and pay more for the property. Pair this with longer amortization schedules, rate lock terms and aggressive lenders competing with one another and you have favorable buying conditions. Commodity prices, particularly corn and soybeans remaining stable in the mid $5’s and mid to high $12’s as we enter harvest. Prices remaining high allow operations and farms to expand, especially when paired with low interest rates. Throughout 2021 we have experienced low volume in the land real estate market, echoing other sectors of real estate markets. Government payments combined with other favorable buying conditions led to increased demand from buyers across all real estate markets. This increased demand has remained consistent, if not increased, today as favorable buying conditions allow buyers to pay more per acre without their payments increasing and land is turned to as a more stable investment to escape the volatility of other markets. Other markets continue to inflate and have a high cost of entry, land is looked at as a safe investment which allows you to experience a consistent rate of return, appreciation, tax benefits, and the benefits of increasing equity through time which comes with real estate investment.

While we are beginning to see an increase in volume come to the market, there simply is not enough supply to keep up with the build up in demand. The long list of registered bidders for each land auction echoes this statement. It could make a lot of sense for your family or operation to explore a sale in this market. There is still plenty of time in Q4 to close on your property. Whether you are considering a sale or adding acres, give one of our land agents a call today.

Another area where we continue to see growth is our land appraisal department that tracks every sale to use as comparables for appraisals for banks, estates, land owners, trusts, and many other purposes. If you are wondering what a property is worth in today’s market, making a purchase, or settling an estate and are in need of a land appraisal in Minnesota or farm land appraisal in Iowa our team appraisers are very quick and cost effective.

Have a safe and successful harvest and thank you to all of our wonderful clients.

Land Prices for the month of August 2021 remained very strong at levels similar to the previous month. This time of year we are focused on scheduling upcoming land auctions, compiling inventory of deer and wildlife photos on listings, and looking at tillable land rents or new tenant contracts for next years growing season. In the state of Iowa for example the deadline to terminate a farm lease for the next growing season is September 1st. In the event the farm lease is not terminated it continues automatically on a year to year basis based on the current terms of the agreement unless proper notification is served before September 1.

The land market has remained strong for 4 main reasons. First interest rates on land are consistently in the 3-4% range with lenders today in the area from our experience. This allows the buyer to have a lower payment and pay more for the property. Pair this with longer amortization schedules, rate lock terms and aggressive lenders competing with one another and you have favorable buying conditions. The next reason is commodity prices from timber to corn, soybeans, hogs, wheat, cattle, hay, etc have all fluctuated and for the most part much higher than they were a year ago. When this happened people who operate in this space as a farmer or landowner see an increase in revenue and buy more land. Third was covid, not only did this pandemic drive people to the country, smaller communities, and rural in country travel it also made people realize that life is short and want to own something of their own for reasons of food, water, and protection as well as enjoyment out of the city. This increased demand and reduced supply in an already tight market. The last reason land prices have increased and in my opinion will continue to, is the stock market being too high for new investments and buyers wanting a secure place for their money. Once you have made money the goal is to keep it, and there is no better way to do that then purchase a tract of land that produces income from food production.

One thing we do not bring up nearly enough is our land appraisal department that tracks every sale to use as comparables for appraisals for banks, estates, land owners, trusts, and many other purposes. If you are wondering what a property is worth in today’s market, making a purchase or settling an estate and are in need of a land appraisal in Minnesota or farm land appraisal in Iowa our team appraisers are very quick and cost effective.

Enjoy the remainder of your summer and thank you to all of our wonderful clients.

As July comes to a close, land prices across the Midwest continue to trend upwards. An echo of last month’s land market update, much of the growth and upward trend continues to be most prevalent in auction sales. High Point Auctions in the month of July across Iowa sold at an average of $141.50/CSR2. High Point Agents have 8 additional auctions that have been scheduled for fall across Iowa, Minnesota and Wisconsin. With auction prices continuing to set the precedent, an auction, either before or after harvest is the best way to get top dollar for your farm. Tillable land continues to see the greatest increase, although we are also realizing increases across all categories (timber, recreational, development, pasture, etc.).

The land market continues to surge primarily due to interest rates reaching all time lows in certain loan options, as well as commodity prices rebounding to over $5.50 corn and $14.50 beans. In national news, drought continues to be a concern particularly for the Dakotas and Western United States. Locally, Northwest Iowa and Southwest Minnesota show the greatest affect by drought, crop conditions across Iowa as a whole have improved since the end of June. Also in national news, nominee to the chair of Undersecretary of Agriculture voiced support of expanding Crop Insurance, Carbon Credit Commodities, & CRP Enrollment. In relation to the land market, land owners and operators should keep an eye out for increased CRP incentives in order to meet the proposed “30×30 plan”, a proposed plan to conserve 30% of the nation’s land by the year 2030. 

While many are exclaiming that the country and economy are “returning to normal”, I fall into the camp that is settling into a “new normal”. This thought carries over into the state of the current land market. Strong commodity prices, and land owners seeing the effects of government payments last year, are driving the land market forward. Land prices across Iowa, Minnesota, and Wisconsin continue to be stable and trending upwards. Many counties are experiencing 5 year highs in land prices, up almost 15% from last year. The majority of these sales are resulting from estates and retiring farmers. 
My recommendation for those looking to sell in the current market would be to sell via auction in early fall. The reason being, the “new normal” is being established as we speak by market participants, the market is being set by competitive bidding between expanding operations, investors and first-time market entries. In order to achieve the highest price for your farm in the “new normal”, you must have your farm marketed to each of these groups and have competitive bidding occur on auction day. Selling privately at 2020 prices is not doing your farm justice. Other topics to pay attention to which will have a role as to where the market is headed include; weather affecting commodity supply, potential tax changes which will have a drastic effect on land owners, and the effect of the economy reopening and how it affects commodity prices.
In the last month, High Point has made the expansion to Colorado. Colorado Land Specialist, Kyle Lopez, had his input on the current state of the land market in CO. “It wasn’t that long ago that in Colorado, owning a ranch meant solely on owning it for the agricultural value it produced, meaning that the value it produced was tied to the the crops and/or the the cattle that the range could sustain.” Maintaining the theme with the “New Normal”, Lopez continued, “Today in the current market it doesn’t take long to realize that the agricultural value and what used to be know as the agriculture price tag has now shifted to what we call the recreational value. Ranches are now purchased with the intention of making a profit on the resale of that ranch. More importantly, purchasers of ranches have shifted from truly ‘farming’ to enjoying the recreational and aesthetic attributes of the property.”

The major themes seem to be repeated across all markets whether you are in Iowa, Minnesota, Wisconsin, or Colorado. Inventory is low. When properties do come to market and are marketed correctly, land is selling quickly and at strong prices. With a rapidly changing market, it is important to have a market professional at your side. Whether you are looking to buy and lock in a low interest rate, or take advantage of rising prices to capitalize on your farm’s appreciation, our 20 Land Specialists know how to navigate the market and keep you abreast of changes. Another important note, keep in mind potential tax obligations that may come with purchasing or selling land. Whether your transaction involves an estate, partnership, or 1031 exchange, our Appraisal Team also stands ready to assist.